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ScaredEitherWay

Penpol Property Developers Selling Up To £125m

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Over the past few years, Penpol have bought up a lot of old hotels in the town and boarded them up or demolished them. They had a lot of problems getting planning permission ... and now they seem to be selling up a few of their sites.

http://www.newquayvoice.co.uk/nvnews/news/...87&offset=2

ONE OF the resort’s largest property developers has started the process of selling off some of its sites, ....

Penpol, which owns nine sites and former hotels in the resort, .... has only got the green light from the council to develop one of its sites, ...

The property group, ... has only been in existence for four years and has reportedly invested £125 million on its various property acquisitions.

... There is no suggestion that the Penpol group is in any financial difficulty .... well-known in the town for having a history of disputes with planners through a number of property development companies ... throughout the South West.

Mr Gill ... says profit is the only reason for selling off sites.

This is one of them:

1] They were trying to sell off plan flats from this, I noticed 2 weeks ago they inexplicably increased the price of each of them by £20k+ now they're all lumped into one at £1million.

http://www.rightmove.co.uk/viewdetails-200...=1&tr_t=buy

This plot of land is just a normal house-sized polt in a mainly residential street. No sea views.

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Over the past few years, Penpol have bought up a lot of old hotels in the town and boarded them up or demolished them. They had a lot of problems getting planning permission ... and now they seem to be selling up a few of their sites.

http://www.newquayvoice.co.uk/nvnews/news/...87&offset=2

This is one of them:

1] They were trying to sell off plan flats from this, I noticed 2 weeks ago they inexplicably increased the price of each of them by £20k+ now they're all lumped into one at £1million.

http://www.rightmove.co.uk/viewdetails-200...=1&tr_t=buy

This plot of land is just a normal house-sized polt in a mainly residential street. No sea views.

I've been watching them for a while. Unlike a sensible develoiper who buys, builds, and sells to generate cashflow these clowns have just been buying up all available sites and demolishing the existing buidlings. They haven't built, or sold, anything.

Still, it's opened a nice few views. I will laff when they crumble.

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What worries me is Oldham council has bought up tons of land and property and have just realised it's not money in the bank and they actually need to sell it ...

And their housing is already managed by First Choice which I thought was separate but they're looking at changing that's landlord too

From the chron:

Council in giant building sell-off

FOR SALE: Failsworth Town Hall is identified as surplus to requirements

13,000 homes could get a new landlord

by JANICE BARKER

Oldham is facing the biggest shake up of its buildings, land and council houses since the authority was set up 34 years ago.

Plans could include transferring all Oldham’s 13,000 council houses, valued at £892 million, to a new landlord.

The council has already carried out stock transfers at Fitton Hill and Limeside estates, both of which are owned and maintained by housing associations.

First Choice Homes, set up to manage Oldham’s council estates in 2001, is bringing them all up to decent homes standards with £120 million Government grants, which end this year.

The council then has to decide how it wants homes to be managed in the future — they could transfer them to a housing association or another social landlord.

The suggestion is part of new property strategy and asset management plan to streamline Oldham Council’s property.

The authority has already agreed to shrink its office space by a quarter in five years, and £1 million worth of unused land and buildings were sold off last year.

Failsworth Town Hall is being sold, Broadway Library, Chadderton, will close and more distinctive buildings will go under plans to use council buildings more efficiently or get rid of them.

The reviews include the future of the Civic Centre, due in April, and the long-term future of the Queen Elizabeth Hall.

A consultants’ review of Oldham town centre with the aim of improving shopping and leisure; replacing or upgrading the sports centre; action on the old Town Hall; and replacing the Coliseum Theatre, is due this month.

Another looking at plans to move Tommyfield market stalls to the town centre, and the future of the old outdoor market site, is due by the end of the month.

The ideas are in a discussion document and will go before the Cabinet on Monday for approval.

Property in every district in the borough will also be examined, starting with Royton which will be reported on by May.

Any surplus buildings which could be passed to the community will be identified.

A new health and wellbeing centre — like the one replacing Chadderton Baths — is planned for Royton.

North House offices for Trading Standards and Licensing, will close, and staff will transfer to the VIP Centre in Vulcan Street.

Former children and old people’s homes at Marian Walker House, Toravon, Ashleigh, Greenacres Lodge, Broadway House and the Hollies plus land at Rock Street are on the market.

Green and open spaces will be reviewed to identify those that need upgrading.

I'd link to the story but Oldham Chron is a nightmare to find the links to stories - http://www.oldham-chronicle.co.uk/NEWSTH01.html its here now but won't be a in a week

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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